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Author Topic: How many confirmations until i can re-send the money  (Read 3334 times)
sgk
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March 12, 2015, 05:37:50 AM
 #21

In multibit it's possible after 1 confirmation.
where i can see that 1 confirmation in multibit ? i just see green circle then tick, whether it's 1 confirmation?
i had a few days using multibit

The circle turns green gradually with every confirmation.
With one confirmation, you can see a 60 degree pie of the circle turned green.

At 6 confirmations, the circle turns into green tick mark.
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March 12, 2015, 11:06:58 AM
Last edit: March 12, 2015, 02:44:47 PM by Gisado
 #22

Technically you can spend unconfirmed coins, but some clients does not allow you to use unconfirmed coins. So, it's up to your client. Of course, it is safe to wait for at least one confirmation to be sure.

EDIT: Mycelium does not allow you to spend unconfirmed coins, while Electrum does. Haven't tested core/qt or other clients.
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March 12, 2015, 12:17:44 PM
 #23

at times I resend them as soon as its received. I use blockchain as wallet I'm not sure it works on other wallets

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March 12, 2015, 04:41:13 PM
 #24

you can send the coins to anywhere even without confirmation if it is from blockchain wallet as long as there is enough fee for the transaction, however if the fee is lower than the minimum amount there will be a prompt when you try to send the coins
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March 12, 2015, 06:51:35 PM
 #25

Technically you can spend unconfirmed coins, but some clients does not allow you to use unconfirmed coins. So, it's up to your client. Of course, it is safe to wait for at least one confirmation to be sure.

EDIT: Mycelium does not allow you to spend unconfirmed coins, while Electrum does. Haven't tested core/qt or other clients.

QT clients don't allow it. But electrum and mytrezor.com and blockchain.info do.

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March 12, 2015, 08:13:27 PM
 #26

I remember someone using blockchain wallet tried to send some coins with a standard fee and it did not confirm for hours. Later he found out it was due to him spending the uncomformed 1 satoshi spam. This means blockchain wallet can spend uncomfirmed inputs, but that transaction may not confirm.
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March 13, 2015, 04:31:18 AM
 #27

Technically you can spend unconfirmed coins, but some clients does not allow you to use unconfirmed coins. So, it's up to your client. Of course, it is safe to wait for at least one confirmation to be sure.

EDIT: Mycelium does not allow you to spend unconfirmed coins, while Electrum does. Haven't tested core/qt or other clients.

QT clients don't allow it. But electrum and mytrezor.com and blockchain.info do.

if you send unconfirmed coins to a certain address i assume it would need 2 confirmations to get 1 confirmation on each address?
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March 13, 2015, 04:52:18 AM
 #28

Technically you can spend unconfirmed coins, but some clients does not allow you to use unconfirmed coins. So, it's up to your client. Of course, it is safe to wait for at least one confirmation to be sure.

EDIT: Mycelium does not allow you to spend unconfirmed coins, while Electrum does. Haven't tested core/qt or other clients.

QT clients don't allow it. But electrum and mytrezor.com and blockchain.info do.

if you send unconfirmed coins to a certain address i assume it would need 2 confirmations to get 1 confirmation on each address?
I don't think so, for example see txhash 80bc750edfffdbd1c50116faf832aa932b8ebb5756bc08076296f381dada9096 and 6da6d4cf7cdcf362dcffd4499a44c84c5d0e09bfc47169ae4fe91dc99a3a1f77. They both have 2 confirms. (As of now I'm saving this)
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March 21, 2015, 01:38:55 AM
 #29

Technically you can spend unconfirmed coins, but some clients does not allow you to use unconfirmed coins. So, it's up to your client. Of course, it is safe to wait for at least one confirmation to be sure.

EDIT: Mycelium does not allow you to spend unconfirmed coins, while Electrum does. Haven't tested core/qt or other clients.

QT clients don't allow it. But electrum and mytrezor.com and blockchain.info do.

if you send unconfirmed coins to a certain address i assume it would need 2 confirmations to get 1 confirmation on each address?


As Gisado said, bitcoin allows valid transacitons to be chained and being included in a single block. I think the only limitation is, that all former transaction need to be confirmed in the same block.

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March 21, 2015, 07:43:06 AM
 #30

You don't need any confirmation, but double spend risk is higher
So, even your client allow you to re-send your money without any confiramtion, it's better wait for a confirmation

But, some people always said 6 confirmation is necessary Sad
If the transaction do not have any competing transactions on the network and is well propagated with enough fees, the risk of double spending should be negligible. 6 confirmations prevents most attacks but not 51% attacks, you can't be 100% safe with it.
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March 21, 2015, 05:11:13 PM
 #31

You don't need any confirmation, but double spend risk is higher
So, even your client allow you to re-send your money without any confiramtion, it's better wait for a confirmation

But, some people always said 6 confirmation is necessary Sad

But you are sending those transactions yourself. Whom would you have to trust then?

Or do you mean as the receiving party?

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March 21, 2015, 05:29:59 PM
 #32

You can send your BTC away after 0 confirmations if you export the private key and use any other wallet. This is really easy so everyone should be able to do it.

Yes but then he compromizes the security of the wallet.

Suppost 1 of them goes scammer , the other wallet is still holding, if you expose the private key to both services then you double your risk of theft.

It's not a good idea to mix services just as its not a good idea to use the same password in all websites, its the same logic.

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Hfleer
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March 21, 2015, 05:34:44 PM
 #33

You can send your BTC away after 0 confirmations if you export the private key and use any other wallet. This is really easy so everyone should be able to do it.

Yes but then he compromizes the security of the wallet.

Suppost 1 of them goes scammer , the other wallet is still holding, if you expose the private key to both services then you double your risk of theft.

It's not a good idea to mix services just as its not a good idea to use the same password in all websites, its the same logic.

What are you talking about??? Sending a transaction doesn't reveal your private key.

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March 21, 2015, 05:40:09 PM
 #34

You can send your BTC away after 0 confirmations if you export the private key and use any other wallet. This is really easy so everyone should be able to do it.

Yes but then he compromizes the security of the wallet.

Suppost 1 of them goes scammer , the other wallet is still holding, if you expose the private key to both services then you double your risk of theft.

It's not a good idea to mix services just as its not a good idea to use the same password in all websites, its the same logic.

What are you talking about??? Sending a transaction doesn't reveal your private key.

No i was talking about importing your circle private key into blockchain.info, if one of those services goes to be a scam, then it compromizes the private key.

For example if blockchain.info were to go a scam, if you import your circle address there then it would be pretty nasty.

It's like using the same password on all internet websites, if 1 service is fake and scammy then all of it is compronized...

For now both of those wallets are honest, but who knows what the future holds.

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March 21, 2015, 05:45:04 PM
 #35

You can send your BTC away after 0 confirmations if you export the private key and use any other wallet. This is really easy so everyone should be able to do it.

Yes but then he compromizes the security of the wallet.

Suppost 1 of them goes scammer , the other wallet is still holding, if you expose the private key to both services then you double your risk of theft.

It's not a good idea to mix services just as its not a good idea to use the same password in all websites, its the same logic.

What are you talking about??? Sending a transaction doesn't reveal your private key.

No i was talking about importing your circle private key into blockchain.info, if one of those services goes to be a scam, then it compromizes the private key.

For example if blockchain.info were to go a scam, if you import your circle address there then it would be pretty nasty.

It's like using the same password on all internet websites, if 1 service is fake and scammy then all of it is compronized...

For now both of those wallets are honest, but who knows what the future holds.

Then you read it wrong. He said that he already sent the BTC from Circle to his BCI account. So he doesn't need to import anything at all.

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March 21, 2015, 05:51:57 PM
 #36

I can confirm that its possible to send bitcoins to another wallet from electrum without having any confirmation. It only requires 1 confirmation and it will be confirmed on both sides since it might be processed on the same block (as far as i know, correct me if im wrong)
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March 21, 2015, 07:24:23 PM
 #37


Then you read it wrong. He said that he already sent the BTC from Circle to his BCI account. So he doesn't need to import anything at all.

How was i reading wrong? And why you say "he", i was quoting you man, why you talk about yourself in the 3rd person.

You said that export-import from circle to blockchain.info, and i explained why thats not a good idea.

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Hfleer
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March 21, 2015, 07:27:06 PM
 #38


Then you read it wrong. He said that he already sent the BTC from Circle to his BCI account. So he doesn't need to import anything at all.

How was i reading wrong? And why you say "he", i was quoting you man, why you talk about yourself in the 3rd person.

You said that export-import from circle to blockchain.info, and i explained why thats not a good idea.

Where did I write this?

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Hfleer
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March 21, 2015, 07:27:43 PM
 #39

You are reading into things... I said that you can export the private key from your OWN wallet, not from circle. You can't export shit from circle.

█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
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GreenStox
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March 21, 2015, 07:31:54 PM
 #40


Then you read it wrong. He said that he already sent the BTC from Circle to his BCI account. So he doesn't need to import anything at all.

How was i reading wrong? And why you say "he", i was quoting you man, why you talk about yourself in the 3rd person.

You said that export-import from circle to blockchain.info, and i explained why thats not a good idea.

Where did I write this?

You are reading into things... I said that you can export the private key from your OWN wallet, not from circle. You can't export shit from circle.

Ok i was generalizing then. Forget about Circle, but it can be the same for any wallet. Never compromize the private key with 2 services, that is the point i was trying to make.

Even if it's your own wallet, why would you want to share that private key with Blockchain.info or other sites, when you arleady have it secured on your PC?

Isn't it better to pay a damn 0.0001 BTC, then to compromize the entire address with a 3rd party?

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